Tuesday, 14 October 2014

Sustaining a winning
strategy in business is good, however, a time comes when dropping such strategy
becomes a necessity even when it is still profitable to the business and the
reason is simple – every stage of business growth requires a new strategy, and
when a business gets to maturity, it’s an indication that a new strategy is
required to sustain the organization in business.

An entrepreneur can reinvent a business by employing
deliberate and conscious strategies that will help the organisation compete effectively, and the only way an organisation can maintain its
growth is by launching new growth business strategies when the core units are still strong.

Don’t
stay too long on a business strategy, you must learn to adjust in a dynamic
business world.

Sunday, 15 December 2013

Today December 15 2013, Nelson Mandela is finally laid to rest in his home town Qunu. He is a Legend, and the face of freedom in Africa and indeed the world. An iconic leader that earned world respect because of the values he represents. However, beside his personal life and struggles for freedom, there is a business perspective to his name, and there is a lesson for every upcoming entrepreneur who wants to add value to business.

It is in your hands
The decision to make a difference is in your hands irrespective of your challenges. The success of your business is in the choices you make, the diligence you put into work and the values you represent. Take charge, and take action to grow your business.

Perseverance
Taking 27 years out of a man’s life is enough to discourage and kill his dream of a free South Africa, but he refused to give up his ambition. Set your business goal and determine to stand by it. Never give up, and be confidence that you would walk out of that ‘prison’ (Struggles) successful. Successful businesses became achieved success because they hanged on even when it was not convenient. Business will not always go your way, but you have to persevere hoping that the good times will come.

Turning adversity into a brand
46664 is the prison number of Nelson Mandela. However, today this number is not just a prison number but an emerging brand in Africa for a cause. Businesses are set up to pursue a cause – meet needs. Don’t dwell on your problems, always think positive about the challenges you face in business.

No enemies in business
He won the noble peace prize with his former ‘enemy’ and even raised his hand in public. Don’t consider any competitor as an enemy because you are all pursuing the same goal from different perspectives. Think cooperation, think partnership, think welfare of the consumers.

Madiba is no longer with us, but the values he left behind are a great asset for any entrepreneur to imbibe in building a successful business.

Wednesday, 4 December 2013

Marketing
strategies are becoming more aggressive, innovative, inexpensive, intuitive and
proactive. Innovative marketing is redefining business as entrepreneurs adopt
new strategies to product promotion. Innovative entrepreneurs create unique
identity for their businesses and as well promote their products.

Entrepreneurial
Marketing is marketing with an entrepreneurial spirit. It is a type of
marketing strategy that is innovative, risky and proactive. It focuses on
opportunities and can be performed with less resource.

Here are the 3 best
known and most successful Entrepreneurial Marketing strategies

·

Guerrilla
Marketing

This
is a ‘crazy’, low cost, high impact and a one-time (rarely repeated) marketing
technique that springs surprises and that ‘wow effect’ about your business. E.g.
The TV drama series ‘Vampire Diaries 2’ was promoted with ‘Blood-like liquid’
dispenser at strategic locations.

·

Buzz
Marketing

It
is a form of word-of-mouth communication which uses internet, e-mail, or BBM to
generate a buzz around your business or product. Get opinion leaders in social
networks to help disseminate information about your business. Buzz marketing strives
on credibility, else it will be counterproductive.

·

Viral
Marketing

This
is about a customer spreading marketing messages or rumors about a product to
create brand awareness. The best form is to create messages that appeal to
individuals who can forward the message.

No matter the form your
marketing strategies take, a little creativity can get you ahead of others.

Friday, 15 November 2013

Entrepreneurship is not a style, and it’s no joke. It is not a wish, and it’s not in having a great idea, and it is not about having a complimentary card or a business name. Being an entrepreneur is about sweating out your idea, and making it tangible enough for various stakeholders to buy into it. Having the title ‘an entrepreneur’ is not an accomplishment, what makes you an entrepreneur is what you have accomplished through innovation and creativity.

There are 2 critical roles entrepreneurs play in the life of consumers

The role of a Father
Fathers anticipate the needs of their children. Through experience, they know what needs the children may have as they grow, so they prepare for it, and provide it. Successful entrepreneurs are those that anticipate needs and sometimes even create one and eventually solve it. Consumers sometimes don’t know what they really need; it is the responsibility of the entrepreneur to anticipate such need, and figure out how to satisfy it.

The role of aLeader
Leaders lead their followers towards a desired destination. For entrepreneurs, it is not enough to anticipate needs, they have to guide consumers towards satisfaction. Consumers love entrepreneurs that have the capacity to lead them to satisfaction. If you anticipate need and you can’t create a solution that is so innovative and creative that consumers are willing to leave their current solution and move on with you, you are not yet an entrepreneur. Steve Jobs provided a direction with the iPhone and iPad; he created a new path that consumers and competitors willingly followed. That is what entrepreneurs do.

Entrepreneurship is a duty, an obligation for which you hold yourself accountable for meeting a particular need of the society. You have the duty not just to identify a need, but to innovatively transform that need into a solution that people will be willing to pay for. Every activity an entrepreneur engages in is done with a level of responsibility to the consumers, and it is this responsibility that makes one an entrepreneur.